Select & Collect – Minimise Shrinkage, Maximise Control

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All retailers struggle with inventory losses and with seeing their revenues dwindle due to shrinkage.  The average shrinkage in the retail industry is about 2% of sales (National Retail Federation). That added up to $123 billion for retailers worldwide in 2015.

Shrinkage due to theft – internal or external – is one of the most urgent issues for the retail industry to solve. Shrinkage due to employee theft and shoplifting make up 77% of the total shrinkage globally.
The most stolen products are small premium price products: razors, tobacco, non-prescription drugs, condoms, pregnancy tests, batteries, mobile accessories, and makeup – products that are easy to conceal and re-sell.

Closely connected to the shrinkage issue, is inventory control. Monitoring inventory, counting and restocking ties up a lot of resources and takes away from more productive activities.

How it Works

With a Select & Collect solution, shrinkage can be eliminated at the same time as inventory control becomes more efficient. A Select & Collect solution stores the premium price products in a dispenser placed at the exit of the store. Customers get product cards or tickets from touch screens around the store, move on to the checkout, pay for the products and then collect them from the dispenser.

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Upselling potential with self-checkouts

The Vensafe solution can now be integrated with self-checkouts. That brings new opportunities for promotions and upselling. Vensafe is the only solution on the market that can display promotional products on the self-checkout screen. It is also the only solution that enables tobacco sales in the self-checkout. Customers simply press the button for the promotional item or the tobacco, pay for it and pick it up at the dispenser.

Benefits of the Strongpoint Select & Collect Solution:

Zero Shrinkage

Products are stored in the secure Vensafe dispenser. The customers collect the goods after paying for them. The system tracks all openings and other actions taken. This minimises the risk for internal theft.

Inventory Management and Control

The system can be integrated with the POS system and it will alert when products are out of stock or need to be refilled. This allows for a centralised analysis of inventory and can even mean that suppliers can handle the inventory.

Optimised Check-out Zone

Products are presented on screens or with product cards at the checkout and on the store floor. This means improved use of the limited space around the checkout and can also improve sales presentations of the products.

Minimal Warehouse

Since the system manages the inventory levels, retailers will enjoy reduced stock needs and reduced storage costs. The inventory differences will also be minimised.